Spyker Cars NV reported yesterday a first-half loss of $177 million and trimmed Saab’s sales targets and said it would lose money through 2010. Spyker, the money-losing Dutch supercar maker, bought Saab from General Motors earlier this year.
Spyker admitted that it may have been too optimistic on Saab’s earlier targets. CEO Victor Muller said that the company had sufficient liquidity and would not have to recapitalize despite reporting negative shareholders’ equity.
Separately, Bloomberg reported Saab Automobile is holding technology-sharing talks with three automakers in an effort to cut model-development costs to get on the road to recovery.
“We’ve had discussions with three carmakers,” Muller said. He mentioned again that the partnerships will be a collaboration that will focus on the upcoming Saab 92 compact car.
– By: Omar Rana
Source: Automotive News (Subscription Required)